• Of course they want you to “make them whole again.” To them, it doesn’t seem like an unreasonable request. After all, it didn’t take that long to lose almost two thirds of their equity. How hard could making it up be?
• You are now expected to somehow grow the money 200%!
• Since you have a pretty good idea you will end up with the account if it becomes a train wreck, you might as well get involved on the front end and try to see this doesn’t happen.
Trust is your greatest asset within friendships. Don’t underestimate its importance.
Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book Captivating the Wealthy Investor is available on Amazon.